Thunder Gold Corp. announce diamond drilling has commenced at the Tower Mountain Gold Property, located 50-km west of Thunder Bay, ON. Chibougamau Diamond Drilling Ltd. (‘Chibougamau') was awarded the 4,000-metre contract.

A drill was mobilized to site on February 13th and drilling commenced on February 14, 2023. The estimated program duration of the fully funded drill program is seven weeks. Compilation Overview: Gold mineralization occurs in both the host volcanic-volcanoclastic rocks as well as in alkalic intrusive dikes and sills likely originating from the alkalic Tower Mountain Intrusive Complex (‘TMIC').

Two independent geophysical consultants have completed inversions of the 2021 IP dataset. The results are essentially identical with both interpretations highlighting a large, strong IP chargeable response located adjacent to the Bench target and extending in a northerly direction to the east of the UV deposit, defining a strike length of over 500 metres. The Company believes that the chargeable anomalies correlate to increased pyrite content which, in turn, correlates to promoted gold grade.

This can be observed along the southwestern boundary of the TMIC where drilling has returned anomalous gold grades at the Bench, Ellen, A (‘BEA targets') and 110 targets, all of which lie within a 20 mV/V chargeable response. Eighty-five (85) drill holes totalling 16,528 metres currently define the four targets. The BEA targets all lie immediately adjacent to and just outside the 40 mV/V chargeable response.

To- date, only parts of five holes penetrate the 40 mV/V response, all of which cut the southeastern corner of the chargeable response. The frequency distribution and average grade of ten metre vertical composite data for the BEA targets at a cut-off grade of 0.00 g/t Au. The populations inside and outside the chargeable response bin are tabulated, At the 10 mV/V; the average grade of the population inside the response is roughly double the small population external to the response.

It should be noted that only 54 composites fell outside the response, a statistically insignificant population. At the 25 mV/V level, the two populations are essentially equal and the average grade of the population inside the response is 75% higher than the population outside the chargeable response bin. This chargeable response level includes the majority of the BEA target composites.

At a 40 MV/V response, the data indicates a population of 116 composites within the chargeable limit which represents less than 10% of the total composite population of the BEA targets. The data suggests that the average grade is approximately 2x higher than the average grade of the much larger population that is external to the 40 mV/V response.